Meyer Handelman Co. Sells 109,429 Shares of Intel Co. (NASDAQ:INTC)

Meyer Handelman Co. reduced its position in Intel Co. (NASDAQ:INTC - Free Report) by 54.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 91,351 shares of the chip maker's stock after selling 109,429 shares during the quarter. Meyer Handelman Co.'s holdings in Intel were worth $2,075,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Intel by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 369,099,204 shares of the chip maker's stock valued at $7,400,439,000 after buying an additional 6,143,164 shares during the period. Geode Capital Management LLC increased its holdings in Intel by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 95,488,444 shares of the chip maker's stock valued at $1,909,761,000 after buying an additional 2,978,346 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Intel by 8.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,263,339 shares of the chip maker's stock valued at $1,268,430,000 after buying an additional 4,793,927 shares during the period. Norges Bank bought a new position in Intel in the 4th quarter valued at about $1,246,569,000. Finally, Northern Trust Corp increased its holdings in Intel by 15.5% in the 4th quarter. Northern Trust Corp now owns 45,811,555 shares of the chip maker's stock valued at $918,522,000 after buying an additional 6,157,853 shares during the period. 64.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

INTC has been the topic of several research reports. Mizuho decreased their price target on shares of Intel from $23.00 to $22.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Intel in a report on Wednesday, May 21st. They set a "hold" rating and a $23.00 price target on the stock. UBS Group decreased their price target on shares of Intel from $22.00 to $21.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. Wells Fargo & Company decreased their price target on shares of Intel from $25.00 to $22.00 and set an "equal weight" rating on the stock in a report on Friday, April 25th. Finally, Benchmark reaffirmed a "hold" rating on shares of Intel in a report on Friday, April 25th. Six equities research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $21.57.

Intel Trading Up 1.0%

Shares of NASDAQ:INTC traded up $0.19 during mid-day trading on Monday, hitting $19.74. The company had a trading volume of 67,730,959 shares, compared to its average volume of 81,318,585. The firm has a fifty day moving average price of $20.67 and a 200 day moving average price of $21.39. The company has a market capitalization of $86.11 billion, a PE ratio of -4.51 and a beta of 1.15. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 0.98. Intel Co. has a one year low of $17.67 and a one year high of $37.16.

Intel (NASDAQ:INTC - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The chip maker reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.12. The company had revenue of $12.67 billion during the quarter, compared to analyst estimates of $12.26 billion. Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. Intel's revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.18 EPS. As a group, research analysts forecast that Intel Co. will post -0.11 EPS for the current year.

About Intel

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products and services worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services segments. The company's products portfolio comprises central processing units and chipsets, system-on-chips (SoCs), and multichip packages; mobile and desktop processors; hardware products comprising graphics processing units (GPUs), domain-specific accelerators, and field programmable gate arrays (FPGAs); and memory and storage, connectivity and networking, and other semiconductor products.